Top news for the week of December 23

Being let go from a job is painful. Losing an employer’s financial contribution to the health insurance plan that came with it can make things much, much worse.

There are multiple reasons someone could find themselves suddenly paying out of pocket for health insurance premiums, and  two of the more common reasons are getting fired or laid off. Though these and other events often qualify an employee for Consolidated Omnibus Budget Reconciliation Act (COBRA) — a law that allows them to keep their employer health plan for a certain amount of time — they become responsible for the entire cost, typically $400-$700 per-person per-month, according to COBRAinsurance.com.